Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. An IBAN uniquely identifies the account of a customer at a financial institution. It was originally adopted by the European Committee for Banking Standards (ECBS) and later as an international standard under ISO 13616:1997. The current standard is ISO 13616:2007, which indicates SWIFT as the formal registrar. Initially developed to facilitate payments within the European Union, it has been implemented by most European countries and numerous countries in other parts of the world, mainly in the Middle East and the Caribbean. As of May 2020, 77 countries were using the IBAN numbering system.
Robert T. Crowley is a pioneer in the development and practice of Electronic Data Interchange (EDI), an early component of electronic commerce.
UN/CEFACT is the United Nations Centre for Trade Facilitation and Electronic Business. It was established as an intergovernmental body of the United Nations Economic Commission for Europe (UNECE) in 1996 and evolved from UNECE's long tradition of work in trade facilitation which began in 1957
UN/LOCODE, the United Nations Code for Trade and Transport Locations, is a geographic coding scheme developed and maintained by United Nations Economic Commission for Europe (UNECE). UN/LOCODE assigns codes to locations used in trade and transport with functions such as seaports, rail and road terminals, airports, Postal Exchange Office and border crossing points. The first issue in 1981 contained codes for 8,000 locations. The version from 2011 contained codes for about 82,000 locations.
An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.
United Nations/Electronic Data Interchange for Administration, Commerce and Transport (UN/EDIFACT) is an international standard for electronic data interchange (EDI) developed for the United Nations and approved and published by UNECE, the UN Economic Commission for Europe.
ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content. The standard covers financial information transferred between financial institutions that includes payment transactions, securities trading and settlement information, credit and debit card transactions and other financial information.
Transaction Workflow Innovation Standards Team (Twist) is a not-for-profit industry standards group. It does not charge anything for involvement. The main goal of Twist is to create non-proprietary XML message standards for the financial services industry. To this end it provides a message format validation service.
The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. As of 2020, there were 36 members in SEPA, consisting of the 27 member states of the European Union, the four member states of the European Free Trade Association, and the United Kingdom. Some countries participate in the technical schemes: Andorra, Monaco, San Marino, and Vatican City.
In 1979, the American National Standards Institute (ANSI) chartered the Accredited Standards Committee (ASC) X12 to develop uniform standards for interindustry electronic exchange of business transactions-electronic data interchange (EDI)
GESMES/TS is a data model and message format appropriate for performing standardised exchange of statistical data and related metadata. It is based on the GESMES message . Its most common use is in the exchange of official statistics.
SDMX, which stands for Statistical Data and Metadata eXchange is an international initiative that aims at standardising and modernising (“industrialising”) the mechanisms and processes for the exchange of statistical data and metadata among international organisations and their member countries.
Tradacoms is an early standard for EDI primarily used in the UK retail sector. It was introduced in 1982 as an implementation of the UN/GTDI syntax, one of the precursors of EDIFACT, and was maintained and extended by the UK Article Numbering Association.
The XBRL Global Ledger Taxonomy Framework is a holistic and generic XML and XBRL-based representation of the detailed data that can be found in accounting and operational systems, and is meant to be the bridge from transactional standards to reporting standards, integrating the Business Reporting Supply Chain.
Electronic Business using eXtensible Markup Language, commonly known as e-business XML, or ebXML as it is typically referred to, is a family of XML based standards sponsored by OASIS and UN/CEFACT whose mission is to provide an open, XML-based infrastructure that enables the global use of electronic business information in an interoperable, secure, and consistent manner by all trading partners.
ISO/IEC JTC 1/SC 32 Data management and interchange is a standardization subcommittee of the Joint Technical Committee ISO/IEC JTC 1 of the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), which develops and facilitates standards within the field of data management and interchange. The international secretariat of ISO/IEC JTC 1/SC 32 is the American National Standards Institute (ANSI) located in the United States.
The Cross-Border Interbank Payment System (CIPS) is a payment system which offers clearing and settlement services for its participants in cross-border RMB payments and trade. It is a significant financial market infrastructure in China. As planned, CIPS will be developed in two phases. On 8 October 2015, CIPS went live. The first batch of direct participants includes 19 Chinese and foreign banks which were set up in mainland China and 176 indirect participants which cover 6 continents and 47 countries and regions. On 25 March 2016, CIPS signed an MoU with SWIFT with mutual understanding of deploying SWIFT as a secure, efficient and reliable communication channel for CIPS's connection with SWIFT's members, which would provide a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable environment. CIPS is sometimes referred to as the China Interbank Payment System.
GS1 EDI is a set of global electronic messaging standards for business documents used in Electronic Data Interchange (EDI). The standards are developed and maintained by GS1. GS1 EDI is part of the overall GS1 system, fully integrated with other GS1 standards, increasing the speed and accuracy of the supply chain. Examples of GS1 EDI standards include messages such as: Order, Despatch Advice, Invoice, Transport Instruction, etc. The development and maintenance of all GS1 standards is based on a rigorous process called the Global Standard Management Process (GSMP). GS1 develops its global supply chain standards in partnership with the industries using them. Any organization can submit a request to modify the standard. Maintenance releases of GS1 EDI standards are typically published every two years, while code lists can be updated up to 4 times a year.
CEN/TC 434 is a technical body within the European Committee for Standardization (CEN) developing standards in the field of Electronic Invoicing.
